On the wires: Disposals but no M&A seen as Kerry Logistics flies too far, too high

“Kerry Logistics Network (KLN) has risen over 90% to a historical high since end-March due to: 1) an improved trade outlook; 2) strong H120 results; and 3) a proposed spin-off of Kerry Express Thailand (KETH). With the stock trading at 18x 12-month forward p/e, we believe that [most upside] is priced in.” – UBS, sourced from a note headed “Growth and monetization outlook fairly valued”, 23 November 2020. 
What’s next, then?

While raising Kerry’s …

The post On the wires: Disposals but no M&A seen as Kerry Logistics flies too far, too high appeared first on The Loadstar.

Source: The Loadstar

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